Franklin Elementary School (MCC) 210 Taylor Street, Muscatine, IA 52761, Phone: 563 – 288-6166 / 263-5040 Franklin Elementary School joined forces with Muscatine Community College to provide a GED program at the school.

HiSET testing

Iowa traded the GED for the HiSET exam for the state’s HSE (High School Equivalency) testing program at the beginning of 2014. GED testing was offered exclusively in a computer-based format and the price nearly had doubled. So many states, including Iowa, mad the switch to an alternative option. Iowa chose the HiSET (short for High Schoo Equivalency Test). If you wish to earn your HSE credential, make sure to become properly prepared.

HiSET acceptance

The HiSET measures (just like the GED) basic skills and knowledge at a level that may be expected of graduating high school students. The diploma that you will receive when you pass the HiSET exam is the equivalency to a standard high school diploma and is accepted as such by practically all employers and schools. More and detailed information can be found at GED (HiSET) Testing in Iowa.

GED-HiSET

The latest edition of the GED exam (2014 Series) had become too expensive and is only available in an entirely computer-based version, so Iowa decided to switch to different HSE exam, the HiSET. This exam is, just like the GED, not available over the internet. You are required to make a personal appearance at one of Iowa’s official HiSET testing centers.

Student loans for bad credit

Now that you’ve earned your Iowa HSE diploma by passing the HiSET, you can enjoy pursuing your favorite study program in college or university. But how are you going to pay for all that, especially when your credit report isn’t that good?

Unknown to some, there are actually student loans for bad credit. These types of loans are commonly known as federal loans and credit checks are not even carried out, which makes the possibility of securing a loan even when the student has a really bad credit score. The two most common types of federal loans are the Stafford and Perkins. One downside is that these loans are granted when some strict guidelines and criteria are met.

On top of having to hurdle some obstacles to obtaining federal loans, the loan itself does not cover the whole cost of tuition, not to mention that there are other expenses that a student procures in relation to his education. Most of the time, students fill the financial void by taking out additional loans from private financial institutions. These types of loans tend to cover a big amount and are truly helpful in securing a proper education but the pitfall is that there rarely exist private student loans for bad credit.

Private lending agencies perform credit checks for every loan application. This will not be a problem if the student has a good credit standing right from the start. Most students do have good credit as their age entails that they have not yet used or even have any credit lines. An issue arises when their good credit is simply not good enough. They may be able to secure loans but they are not given good deals with the interest rates they have to pay.

Students with a not so good credit may be tacked with an additional interest percentage that works as a risk fee. Lenders will usually release loans with a published rate of 3%, that is if they think your credit score is good enough. For those who they peg as having a risk of not being able to pay dues on time and in a regular manner, they generally add an additional 1% to the initial interest rate. To illustrate, a $3,000 loan grant may be charged an interest rate equivalent to an astounding $120.

Private Student Loans for Bad Credit

Higher Interest Rates

Non-subsidized

Payment immediately after graduation

This may sound depressing to learn but students should not lose hope. In fact, there exist other types of student loans with bad credit. There are even private student loans bad credit. Yes, there are some private lenders who actually release bad credit student loans. These sound risky but in they do pose some advantages.

The first advantage in private student loans bad credit is that lenders are actually easy to find. The reason behind is that the higher interest rate is a much lucrative deal for private lenders. They can easily secure their return on investment just by the amount they get to collect in interest rates. Federal loans operate on a rigid system that there is almost nothing you can do once you do not qualify for a loan. Private lenders see it as an opportunity to earn and as such, they try to accommodate as many applicants as they feasibly can.

Another advantage of private bad credit loans is the elimination of having to deal with bureaucracy. Everyone has had their share of dealing with government employees and the long mileage of red tape one has to get through. Most private lenders hire people to provide customer service that can deal with all your inquiries without shutting you down for bureaucratic reasons. Though federal agencies do have their own form of customer service, they operate to discourage rather than to help.

Private student loans bad credit also do not require the student or the parent to accomplish the exhaustive Free Application for Student Aid (FAFSA) forms and the numerous attachments required. Applying for a loan with private lenders tend to be a streamlined process. The only disadvantage, as already mentioned, is that private loans tend to have higher interest rates for all loan types, even for those released to individuals with good credit.

Having a great credit entitles you to grab a good deal on the interest rate. Banks only charge prime rates to other banks and to their important clients. Those with really good credit are able to procure loans with a prime rate or really close to it. A really good deal is being charged with a rate that is lower than the prime rate and even a 1% decrease is already considered a steal. One can obtain such deals even without having a good credit of their own. All they need is a cosigner with a really great one.

Looking for alternative forms of student loans is necessary to fill shortcomings of federal loan grants. Students immediately turn to loans catering to those who have bad credit. They are not aware that there are loans specifically catering to those who merely do not have a credit history. Having no credit history is totally different from having bad credit. The important thing to do is to do your research. Pound the pavement in canvassing all the different options available and look for one that will best work for your needs and your paying capabilities. Also, remember that having a willing guarantor increases your chances of getting a great deal on loans.